Savant Capital LLC Trims Stock Position in Valley National Bancorp $VLY

Savant Capital LLC cut its holdings in Valley National Bancorp (NASDAQ:VLY) by 91.3% during the 4th quarter, Holdings Channel reports. The firm owned 20,140 shares of the company’s stock after selling 210,656 shares during the period. Savant Capital LLC’s holdings in Valley National Bancorp were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of VLY. First Horizon Corp grew its position in shares of Valley National Bancorp by 52.5% in the fourth quarter. First Horizon Corp now owns 3,219 shares of the company’s stock valued at $38,000 after purchasing an additional 1,108 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Valley National Bancorp in the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC grew its position in shares of Valley National Bancorp by 77.4% in the third quarter. Smartleaf Asset Management LLC now owns 4,574 shares of the company’s stock valued at $48,000 after purchasing an additional 1,996 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Valley National Bancorp by 244.7% in the second quarter. EverSource Wealth Advisors LLC now owns 5,884 shares of the company’s stock valued at $53,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Valley National Bancorp in the third quarter valued at approximately $55,000. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Valley National Bancorp

In other news, COO Russell Barrett sold 90,537 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $13.54, for a total value of $1,225,870.98. Following the completion of the transaction, the chief operating officer owned 64,167 shares of the company’s stock, valued at $868,821.18. The trade was a 58.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.06% of the stock is currently owned by corporate insiders.

Valley National Bancorp Stock Performance

NASDAQ:VLY opened at $13.78 on Monday. The firm has a 50 day simple moving average of $13.20 and a 200-day simple moving average of $12.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $7.64 billion, a PE ratio of 12.41 and a beta of 1.04. Valley National Bancorp has a 1-year low of $8.36 and a 1-year high of $14.12.

Valley National Bancorp (NASDAQ:VLY) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $531.89 million. Valley National Bancorp had a net margin of 18.61% and a return on equity of 8.68%. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, equities analysts expect that Valley National Bancorp will post 1.29 EPS for the current year.

Valley National Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 15th. Valley National Bancorp’s payout ratio is currently 39.64%.

Wall Street Analyst Weigh In

Several analysts have recently commented on VLY shares. Royal Bank Of Canada increased their price target on shares of Valley National Bancorp from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. JPMorgan Chase & Co. increased their price target on shares of Valley National Bancorp from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price target (up from $14.00) on shares of Valley National Bancorp in a research report on Wednesday, May 6th. Hovde Group increased their price target on shares of Valley National Bancorp from $16.00 to $16.50 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Valley National Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.13.

About Valley National Bancorp

Valley National Bancorp (NASDAQ: VLY) is a regional bank holding company headquartered in Wayne, New Jersey, offering a comprehensive suite of commercial and consumer banking products and services. Through its banking subsidiary, Valley National Bank, the company provides deposit accounts, residential and commercial lending, mortgage services, treasury and cash management, foreign exchange and trade finance solutions. Complementary wealth management and insurance offerings round out its financial services platform, catering to individual, small-business and corporate clients.

Tracing its roots to the establishment of Wayne National Bank in 1927, Valley has grown into one of the largest banks in New Jersey by both assets and deposit share.